Who is willing to purchase additional units at any price

Assignment Help Microeconomics
Reference no: EM13188877

A monopolist has two types of customers. There are 100 Type A, who will each pay up to $10 for a single unit of the good, and 50 of Type B, who will each pay up to $8. Neither is willing to purchase additional units at any price. If it must charge a uniform price, find that price

Reference no: EM13188877

Questions Cloud

Compute gdp-ndp and ni : Using the following national income accounting data, compute (a) GDP, (b) NDP, (c) NI. All figures are in billions. Compensation of employees U.S. exports of goods and services Consumption of fixed capital (depreciation) Government purchases Taxes on..
Designing and implementing a web application : The task in this assignment is to design a web application that enables a scientist to search for and select publications through a XML-based publication database using XML, Servlets and JSP.
Which market structure best characterizes the industry : Over the last decade, several firms have entered this industry and, as a consequence, Forey is earning a return on investment that roughly equals the interest rate. Furthermore, the four-firm concentration ratio and the Herfindahl-Hirschman index ..
Find the demand function : A manufacture has been selling 1500 television sets a week at 360 each. A market survey indicates that for each 15 rebate offered to a buyer, the number of sets sold will increase by 150 per week.
Who is willing to purchase additional units at any price : A monopolist has two types of customers. There are 100 Type A, who will each pay up to $10 for a single unit of the good, and 50 of Type B, who will each pay up to $8. Neither is willing to purchase additional units at any price. If it must charge..
How long will it take to cool off to a room temperature : when a cake is removed from a baking oven its temoperature is measured at 300F. three minutes later its temperature is 200F.how long will it take to cool off to a room temperature of 70F?
How to figure it out why the argument is wrong : if demand is unit elastic (the elasticity is 1), a 1% price cut increases the quantity sold by 1% and total revenue does not change. the question is: Assume the initial price is 1 and the initial quantity demanded is 1, thus the total revenue is 1..
How fast are the runners separating : the runners are running on circular tracks of which has a circumference of 1320 feet. the tracks are 100 feet apart and and the runners start opposite each other and move at the same constant rate of 880 ft/min. how fast are the runners separating..
What is the firms short-run supply curve : What is the short-run marginal cost curve b) What is the equation for average variable cost c) What is the minimum level of average variable cost d) What is the firm's short-run supply curve

Reviews

Write a Review

Microeconomics Questions & Answers

  The free rider problem

Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.

  Failure of the super committee is good thing for economy

Some commentators have argued that the failure of the “Super committee” is good thing for the economy?  Do you agree?

  Case study analysis about optimum resource allocation

Case study analysis about optimum resource allocation: -  Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..

  Fixed cost and vairiable cost

Questions:  :   Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month?  Explain your choice.

  Problem - total cost, average cost, marginal cost

Problem - Total Cost, Average Cost, Marginal Cost: -  Complete the following table of costs for a firm.  (Note: enter the figures in the  MC   column  between  outputs of  0 and 1, 1 and 2, 2 and 3, etc.)

  Oligopoly and demand curve problem

Problem based on Oligopoly and demand curve,  Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?

  Impact of external costs on resource allocation

Explain the impact of external costs and external benefits on resource allocation;  Why are public goods not produced in sufficient quantities by private markets?  Which of the following are examples of public goods (or services)? Delete the incorrec..

  Shifts in demand and movements along the demand curve

Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..

  Article review question

Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:

  Long-term growth, international trade & globalization

Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..

  European monetary union (emu) in crisis

"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"

  Development game “settlers of catan”

Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd